Contractors say they expect the demand for petroleum—liquefied natural gas (LNG) and petrochemicals production, in particular—will remain strong across the U.S. in the near future, with capital markets and construction projects following suit.
U.S. petroleum deliveries increased from the previous year 4.9% in July—the highest mark for July deliveries in a decade, the American Petroleum Institute reported this summer. While gasoline deliveries reached an all-time high of 9.7 million barrels a day in July, domestic crude-oil production is up 8.6% from last year, API notes.